Diamond prices expected to fall, production expected to rise

Caterpillar Inc. CAT -0.65% announced today it has selected land near Athens, Georgia, as the location for a new facility that will build small track-type tractors and mini hydraulic excavators. The state-of-the-art, one-million-square-foot-facility is expected to directly employ 1,400 people once it is fully operational.

Canadian miner giant Teck Resources (TSX:TCK.B) has priced a $1 billion, two-part bond deal featuring seven-year and 30-year maturities in the U.S. credit markets, announced late Thursday.

London-based giant miner Anglo American PLC (LON:AAL) announced today record $13.3-billion 2011 earnings, a 23% increase in underlying earnings a share and a 14% increase in annual operating profits to $11.1 billion.

Canadian gold producer Agnico-Eagle Mines reported a $604 million loss in the fourth quarter after writing down its Meadowbank mine in Nunavut, northern Canada.

Arizona congressman Paul Gosar (R-Flagstaff), during a hearing today on the Department of the Interior's 2013 budget, took the opportunity to question Interior Secretary Ken Salazar on his department's opposition to a bill clearing the way for the proposed Resolution Copper mine near Superior, Arizona.

Xstrata, one of the world's largest thermal coal exporters, announced today that it has completed the sale of two Mpumalanga collieries to black economic-empowered (BEE) group Imbawula, for an unrevealed sum.

Surface coal mining on Cape Breton Island, on the East Coast of Canada, has been under a moratorium for the last six years, but a report due out next month could revive a dormant industry in what was once an important coal-mining hub.

Barrick Gold Corp. (TSX:ABX), the world’s biggest gold miner, announced that profit slipped in the fourth quarter as the company booked US$153-million in various after-tax charges tied to redundant power assets and its investment portfolio.

Sundance Resources said Thursday approvals for its Mbalam project are only likely to come in 2 months, further delaying a $1.4bn bid by Hanlong.